real estate

Real estate price index up 9% in Q3 2021, year-on-year (INS)

November 21, 2021

TAP) - The real estate price index went up by 9% during the 3rd quarter of 2021 (Q3) compared to the same period in 2020, according to statistics released Friday by the National Institute of Statistics (INS).

This 9% year-on-year increase in real estate prices in Q3 2021, however, marked a deceleration in the price growth rate from 15.4% in the previous quarter.

Still, compared to the same period of the past year, the prices of flats posted an increase of 5.4%, compared to an average growth rate of 7.7% during the last 6 years (2015-2020).
Building land prices rose by 12.6%, compared to an average increase of 5.7% over the period 2015-2020.
Housing prices fell slightly by 0.5% compared to an average increase of 5.1% during the period 2015-2020

11.9% drop in real estate trade volume in Q3 2021 compared to Q2

The house price index fell by 3.7% in Q3 2021 compared to Q2 2021.

This decline is explained by a 7% decrease in flat prices and a 12.4% drop in house prices.
The decline in the volume of trade in real estate recorded in Q2 2021 (-11.1%) is still ongoing with a fall of 11.9% during Q3 2021.
This decline involves transactions in building land (-12.7%), flats (-8.8%) and housing (-9.7%).

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